Can you send money abroad with Beem It? Here’s the low down.

Roberto Efflandrin

The Beem It App is the Australian solution to those pesky old problems of organising split bills, paying merchants or sharing expenses between friends and family.

However, if you are looking at making a Beem It overseas money transfer – this is unfortunately where this app falls short. No worries though, because we’re about to give you some tips on how you can use Wise to send money overseas.

💰 Wise provides you the real exchange rate and low transparent transfer fees shown upfront.

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Wise money transfers

What is the Beem It app and how does it work?

The Beem It app is a digital wallet backed by payment provider Eftpos Australia¹. The Beem It app is available for free on the Apple and Google Play store.

Beem It allows you to pay and get paid instantly and securely, no matter who you bank with in Australia¹. It ensures ease of use, instant transfers and zero fees when transferring money between users¹.

To sign up, all you need is:²

  1. An Australian residential address
  2. A valid ID (Passport, Driver Licence or Australian Medicare card)
  3. An Australian phone number or email address
  4. Access to a bank account linked to a card

Once your account is activated, you can send, request, transfer or pay bills all within the Beem It app.

Is it possible to send or receive international transfers with Beem It?

Unfortunately, it is not possible to use the Beem It app to send or receive money from abroad in different currencies (with a currency conversion)³. It can be used (even while overseas) only between active Beem It users and with money transfers only in Australian dollars³.

Wise as an alternative to send money abroad.

So now that you know that you can’t use the Beem It app to send or receive money abroad, how about you try Wise? Wise offers you the ability to send money abroad in just a few simple steps.

  1. To sign up, visit Wise here and click Register in the top right hand corner (You’ll need your email handy or you can opt in to connect to Google or Facebook to make your account).
  2. Type in how much you want to transfer
  3. Let us know what type of transfer it is
  4. Fill in your details
  5. Tell us who you are sending it to with their bank details or email address
  6. Review your transfer and add a reference (optional)
  7. Choose the transfer type and how you’d like to pay
  8. Confirm and pay for your transfer and that's it!

How much will it cost to send 1000 AUD to the UK in GBP with Wise?

Fees Wise
*Exchange rate $1.00 AUD = 0.534913
Transfer fee and final amount converted $5.14 (one-time fee) Total converted = $994.86 AUD
What your friend will receive for this transfer £532.16 (conversion using Wise mid-market rate)

*Rate checked on the 2 December, 2021

As you can see above, your friend will receive a total of £532.16 to their GBP bank account. This amount includes a one-time transfer fee of $5.14 with no other intermediary fees in between. By sending money overseas with Wise, you know exactly what it costs before you commit and how much your recipient will get on their end.

Try out our pricing calculator below to have an idea of how much you get to save sending money abroad with Wise.

What is the Beem It app mostly used for?

The Beem It app is mostly used for quick money transfers or sharing payments with other Beem It users. Other features include⁴:

  • Requesting payments
  • Scheduling payments
  • Paying Beem It registered merchants
  • Buying Gift Cards from selected merchants
  • Referring friends
  • Making BPAY payments of bills
  • Create customisable QR codes (Personal and Business users)

What are the fees for using Beem It?

Beem It app is completely free to download and use — but be advised, although rare, check with your bank if they have their own transaction fees on transfers⁵.

Contact Beem It

Looking for some help with the Beem It app? You can ask a question, send feedback, report unauthorised use, or make a complaint to the Beem It team by sending an email to support@beemit.com.au⁶.

Conclusion

Beem It app makes it easy to transfer between friends and family within Australia, but unfortunately cannot be used if sending money abroad at the moment. Wise is a great alternative and makes international money transfers just as hassle-free.

Wise(https://wise.com/au/account/)

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Sources:
1 Beem It FAQ’s, What is Beem It all about?
2 Beem It PDS and T&Cs, Registering for Beem It (p. 4, 3.1)
3 Beem It PDS and T&Cs, When you can’t use Beem It? (p. 11, 6.8)
4 Beem It PDS and T&Cs, Features at a glance (p. 3, 2.2)
5 Beem It FAQ’s, How much does it cost?
6 Beem It PDS and T&Cs, Contact Us (p.16, 16)

Sources checked on date: 2 December 2021


Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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